Ricochet's Daily Shot...

Ricochet's Daily Shot... I've blogged about Ricochet on several occasions. It's one of my favorite sites, and it's part of my morning reading routine. I love their commenting Code of Conduct, which keeps the comment threads civil. The writers and commenters are top drawer. One of the features of that web site is a daily email called the Daily Shot, and it's something I look forward to reading every morning. It's a free subscription even if you don't join Ricochet; just go to their home page, look on the upper right, and sign up. Highly recommended! I'd pay for Ricochet membership just to get that email :)

Here's a sample from this morning's Daily Shot:

Want to Understand Greece? Take This and Extrapolate it Across a Whole Economy

Greece is in quite a pickle. It has defaulted on its debt payments to the IMF, it’s cut off (for the time being) from a European bailout, and its prime minister ... is a piece of work. Alexis Tsipras seems to be in over his head.

First, he left bailout negotiations, insisting on a public referendum on the conditions Greece’s creditors were demanding. Then he let his nation go into default on its debt payments. Then, he suddenly realized how bad an idea that was, so he wrote a letter late Tuesday to other European leaders and the IMF, accepting the terms of their bailout. Then he started telling his voters to reject the measure.

On Wednesday, finance ministers from Eurozone countries held a conference call to collectively facepalm ... and then to talk about Tsipras. They decided that, rather than jump in and help, they’re going to wait for the outcome of Sunday’s referendum. You know, rather than rely on the whims of the prime minister/hormonal teenager. Many of Greece’s creditors also have serious doubts that, even if bailed out, Tsipras’s left-wing government would make the necessary reforms.

So now it’s in the lap of the gods and the hands of Greek voters. (You know, the folks who elected Tsipras to begin with). Well, at least until Tsipras changes his mind six more times tomorrow.

Friends, we should applaud the man. It takes an extra level of ineptness of make even Barack Obama look like a decisive leader.